Eight in 10 financial advisers (79%) are unhappy with the measured announced in the Budget, according to a survey.

Just 9% of IFAs surveyed by research agency Opinium believe that the Budget will have a positive impact on the economy.

Just 6% said they think the Budget would benefit their clients.

Despite the majority of IFAs (82%) having anticipated many of the proposals outlined in the Budget, almost a fifth (19%) did not expect all the announcements that were made.

The majority of advisers surveyed (76%) said they felt that the Budget did not reflect what British people voted for. As a result, 72% of IFAs said they now held a more negative view of the Labour government.

Alexa Nightingale, global head of financial services research and partner at Opinium, said: “The findings highlight growing concerns among financial professionals, who argue that the Budget fails to address the real needs of businesses and consumers, further eroding confidence in the government's economic approach.

“It will be interesting to see how announcements that were set out in the Budget unfold as we move towards 2025, especially given ongoing questions surrounding the choices that have been made, and the social groups they will impact.” 

Opinium Research carried out an online survey of 200 financial advisers, between 6 and 14 November. 

However, Financial Planners may have reason to feel more positive about the Budget when it comes to their own business.

A survey for national financial adviser Continuum found that one in 10 Britons between 18 and 24 were planning to access professional financial advice for the first time due to the changes made by the Budget. Just 4% of this age group already had a financial adviser.

The Continuum survey also found that just 18% of UK savers felt positive about the changes made by the Budget. Men felt more positive about the changes (21%) than their female counterparts (16%). YouGov surveyed 2,119 British adults on behalf of Continuum between 5 and 6 November.